Announcement Regarding the Authorisation of Platform Ödeme Hizmetleri ve Elektronik Para A.Ş. as an Electronic Money Institution

Decision on Granting Operating Permission to Platform Ödeme Hizmetleri ve Elektronik Para A.Ş. to Operate as an Electronic Money Institution" (the “Communiqué”) has been published in the Offical Gazette dated 13 February 2024 and numbered 32459 by the Central Bank of the Republic of Turkey (the “Bank”)

As per the relevant Communiqué, Platform Ödeme Hizmetleri ve Elektronik Para A.Ş (the “Institution”) has been granted permission to operate as an electronic money institution by approving some payment services regulated in Article 12 of Law numbered 6493 (the “Law”) within the scope of Article 18, paragraph 2 of the Law.

According to the Communiqué, payment services related to the authorisation granted under Article 12 of the Law are as follows;

a) All the transactions required for operating a payment account including the services enabling cash to be placed on and withdrawn from a payment account,

b) Execution of payment transactions, including transfer of funds on a payment account with the user’s payment service provider, direct debits, including one-off direct debits, payment transactions through a payment card or a similar device, credit transfers including standing orders,

c) Issuing or acquiring payment instruments,

ç) Money remittance,

f) (Added by Law No.7192 of November 12, 2019) At the request of the payment service user, the payment initiation service related to the payment account at another payment service provider.

g) (Added by Law No.7192 of November 12, 2019) Upon approval of the payment service user, the online provision of consolidated information of one or more payment accounts held at payment service providers by payment service users.

In addition, pursuant to the second paragraph of Article 18 of the Law, the Institution shall be able to issue electronic Money upon obtaining permission form the bank..

You may find the detailed provisions of the Communiqué in the Official Gazette.